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Fletchers Group – News Update, 20 February

February 19th 2012

Amid the speculation of a Labour leadership spill and the tragic passing of singer Whitney Houston, the real estate market continues to provide us with plenty to talk about!

At 59 percent, auction clearance rates in Victoria showed a small reduction, following a doubling of the number of auctions compared to last weekend.

The Fletchers Group fared well, achieving a success rate of 75 percent for the weekend. In particular, it was a strong weekend for Balwyn North, with all six properties available selling under auction conditions. Fletchers sold half of these, and while there weren’t a large number of bidders, each property had multiple parties wanting to either buy under the hammer or in negotiations afterwards.

This presents an opportune time to remind buyers that we can only negotiate with the highest bidder if a property is passed in on auction day. Auctioneer and Senior Associate, Jason Salan, observed that sometimes parties are left disappointed after auction, when negotiations are successful with the highest bidder. Jason advises “if you want to buy and don’t bid at auction, you may miss out”. He further noted that pricing remains steady at pre-Christmas levels and a number of new buyers have emerged in the market, providing a strong but steady start to the year.

Other results from the weekend included 2/39 Shawlands Avenue, Blackburn South which sold for $448,000 to a young couple buying their first home, after a good auction by David Taylor and quick negotiations. 27A Kinlock Avenue, Murrumbeena also sold under the hammer for an undisclosed amount, with two bidders.

The fabulous townhouse at 51 Crown Street, Richmond is still available, and is open for inspection tonight, Monday 20 February 2012 from 5:30pm – 6pm. If you can’t make it, don’t hesitate to contact Nick Fletcher on 0403 387 580 to make another time! The exceptional first home at 4/81 Morang Road, Hawthorn is also still on offer for $310,000 and is open for inspection tonight from 6pm – 6:30pm, or contact Karine O’Donnell on 0412 675 777.

With just over a week to go, don’t forget to donate on the Fletchers Group fundraising page for FebFast – we are nearly at our target!

Jason Salan and Caroline Hanson

Jason Salan and his P.A, Caroline Hanson